Electric Vehicle Battery Management System Market Analysis

Type (Lithium Ion, Redox Flow, Lead-Acid)

The lithium-ion segment is estimated to hold 45% share of the global electric vehicle battery management system market in the year 2037. The increasing demand for lithium-ion batteries in the automobile sector can be ascribed to the segment's expansion. According to International Energy Agency, in 2022, the demand for automotive lithium-ion (Li-ion) batteries shot up by 65% reaching 550 GWh, which is significantly higher than 330 GWh in 2021. The growth is mainly driven by the surging popularity of EVs in the world. Batteries made of Lithium-ion batteries employed BMS for maintaining their temperature range since they have high sensitivity to high temperatures. Thus, prone to destruction when the battery is exposed to an unfavorable environment

Vehicle Type (Battery Electric Vehicle, Hybrid Electric Vehicle)

The battery electric vehicle segment is expected to account for 60% of the global electric vehicle battery management system market in the year 2037. Many governments worldwide have implemented incentives and policies to promote EV adoption. Furthermore, in this day and age of environmental concerns, battery electric vehicles emit no exhaust emissions, making them greener and more sustainable modes of transportation. Battery-powered vehicle tends to discharge, thus they need a battery management system to supervise the process and time of discharging and increase the life of the battery by preventing excessive discharging. During battery car operation, the BMS supervises the discharge process to prevent over-discharging, which would harm the battery.

Our in-depth analysis of the global market includes the following segments: